Premier Fund Managers Ltd Buys Shares of 342,000 AT&T Inc. (NYSE:T)

Premier Fund Managers Ltd purchased a new position in AT&T Inc. (NYSE:T) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 342,000 shares of the technology company’s stock, valued at approximately $7,488,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ritter Daniher Financial Advisory LLC DE raised its position in AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after acquiring an additional 841 shares during the period. Riggs Asset Managment Co. Inc. raised its stake in AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after acquiring an additional 1,116 shares during the period. American Capital Advisory LLC boosted its holdings in AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after buying an additional 807 shares during the period. Reston Wealth Management LLC purchased a new position in AT&T in the 3rd quarter worth approximately $35,000. Finally, Altshuler Shaham Ltd purchased a new stake in AT&T during the 2nd quarter valued at approximately $30,000. 57.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on T shares. TD Cowen increased their price objective on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. boosted their price objective on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Daiwa America upgraded shares of AT&T to a “hold” rating in a research note on Friday, July 26th. Finally, Wells Fargo & Company dropped their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $23.40.

AT&T Stock Down 1.1 %

Shares of NYSE T opened at $22.73 on Wednesday. The firm has a 50-day moving average price of $21.94 and a 200 day moving average price of $19.84. The stock has a market capitalization of $163.09 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 3.40 and a beta of 0.59. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 52 week low of $15.85 and a 52 week high of $23.20.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 earnings per share. Equities research analysts anticipate that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.88%. AT&T’s dividend payout ratio is currently 90.24%.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.